Friday, February 6, 2009

The resurrection of Savannah Bank.

Easter came early for Jim Nwobodo and other owners of Savannah Bank as the court of appeal ordered the reopening of Savannah bank. The CBN Governor, Prof. Chukwuma Soludo, at a public hearing organised by the Senate Committee of Banking, Currency and Financial Institutions, had said that “the case of Savannah Bank is like a man who is dead and buried”. The professor forgot that at easter the dead and buried always rose again.

The reopening of Savannah bank according to the court is because due process was not followed in the liquidation not that it was not supposed to be liquidated. We need to start doing things right and not just doing the right things in this country.

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